U.S. Elections, Fiscal Expectations, Empty City Centres: Eco Day

Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • It’s U.S. election day:
    • Follow live updates here, for what it means for the U.S. economy and the Fed, click here and here
    • The degree of fiscal stimulus to be expected after the election depends largely on which party controls the Senate, according to Bloomberg Economics
    • The U.S. steel industry is crying for help beyond a tariff ‘band-aid’
    • Trump has rewritten trade politics in unexpected ways
  • Real-estate companies are seeing clear evidence of New Yorkers and Londoners ditching city centers for suburbs as the pandemic changes the way people live and work
  • The World Trade Organization’s effort to select a new leader next week could be delayed for at least another month because of the rapid spread of Covid-19 in Switzerland
  • The U.K. government’s decision to impose a one month lockdown in England from Nov. 5 means it’s no longer a question of whether the central bank will add stimulus on Thursday, but a question of how much, according to Bloomberg Economics
    • U.K. Chancellor Rishi Sunak faces another expensive dilemma: write a blank check to support Scotland through the pandemic or risk bolstering support for independence north of the border
  • The Italian government is readying new relief funding of at least 1.5 billion euros ($1.8 billion) for businesses affected by coming shutdowns to combat the spread of Covid-19, people familiar with the matter said

©2020 Bloomberg L.P.

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